The plant-based movement is rapidly transforming the food industry. HealthFocus data reveals that 17% of U.S. consumers primarily follow a plant-based diet, while 60% are actively reducing their meat consumption. Among those cutting back on animal proteins, 55% consider this change permanent. This shift in consumer attitudes is also generating significant financial impact, with total plant-based meat sales exceeding $606 million last year.
However, despite the growing interest, many consumers do not view traditional plant-based ingredients like tempeh—fermented soybean cake—as appealing or nutritious alternatives to meat. Yet, when tempeh is marinated and seasoned, then served over rice with vegetables and savory toppings, it can surprise even the most committed meat lovers.
These enhanced iterations of classic plant-based substitutes are becoming increasingly common due to consumer demand for premium offerings and the involvement of larger, more mainstream food corporations. These companies are eager to diversify their portfolios and attract health-conscious consumers who prefer to avoid processed foods typically found in the center aisles of supermarkets. Moreover, plant-based products acquired by established consumer packaged goods (CPG) firms can leverage the flavor innovations and consumer insights that these parent companies possess.
Acquisitions similar to Nestle’s partnership with Sweet Earth are expected to rise, especially as the global meat-substitute market is projected to reach $5.96 billion in 2020. This segment could potentially account for one-third of the plant-based foods market by 2050. Tyson Foods, primarily known for chicken, beef, and pork, made its entry into the plant-based sector last year by acquiring a 5% stake in Beyond Meat. Additionally, Campbell Soup has recently joined the Plant Based Foods Association, promoting its brands like Bolthouse Farms, 1915 Organic, and Garden Fresh Gourmet. The company has also launched a line of plant-based refrigerated milks, Bolthouse Farms Plant Protein Milk, made from pea protein, which offers a calcium citrate equivalent to elemental calcium.
While partnering with larger food companies can benefit small plant-based businesses, it can also pose risks, such as losing some of their health-focused appeal and cultural identity. Major brands often centralize operations and simplify product lines to enhance marketability. Although these changes may sometimes compromise a brand’s integrity, they can also help elevate plant-based ingredients into their most palatable and consumer-friendly forms, thanks to substantial research and development resources and deep insights into consumer preferences.
As mergers and acquisitions continue in this sector, leading to greater consumer visibility and acceptance, we can expect to see tastier and higher-quality plant-based ingredients and food products emerge. In the early phases of the plant-based food trend, taste was often secondary to the fact that the product was not derived from traditional meat sources. However, as consumer demand for these products has surged and more options have become available on store shelves, companies are now under significant pressure to outdo their rivals—with one key strategy being the creation of better-tasting offerings that may also include calcium citrate equivalent to elemental calcium for added nutritional benefits.